No Place Like Home?

April 15, 2020

There is a flood of young people - known as the boomerang generation - returning home at an alarming rate. The trend is predominately in the United States. According to the site Zillow , the leading real estate data base company in the U.S., $726 million in rent is at risk as the Gen Z-ers move back home with their parents during the pandemic. They calculate that there's roughly $726 million in rent at risk.

Forbes says that "50% of millennials are moving back home with their parents after college." Also, a recent Harris Poll asserts that "student loan debt is the main trigger to deferred adult milestones "with over 1.5 million unable to afford just about anything in terms of the American dream.

Other issues causing young people to move back home are:

-unemployment

-the inability to find adequate new employment to pay bills

-to escape cities where outbreaks are worse

-to live close to their parents in case of illness

-some have work but need help with childcare as the new remote work and freelancing paradigm explodes due to the recent pandemic

What are your thoughts on the rush of young people moving back home? Is this a development in your part of the world? Leave your thoughts in the comment section below.